Clydesdale Bank has increased the fixed rates of its retail term deposit bonds by up to 0.21%, pushing them into the Moneyfacts charts for their respective sectors. It has also unveiled a new five-year bond, which has gone straight into the top 10.
The two-year Retail Term Deposit now has a yearly rate of 2.10% (2.12% on maturity, 2.09% monthly) and the three-year version now pays 2.40% annually (2.46% on maturity, 2.37% monthly), putting both accounts in the top 10 for their respective sectors. Meanwhile, the brand-new five-year bond has a rate of 3.00% per annum (3.18% on maturity, 2.96% monthly), also earning it a place in the Moneyfacts charts.
All of these fixed rate bonds can be opened and operated by phone, in branch, by post and online with a minimum investment of £2,000.
As is common with fixed rate accounts, none of these deposits allow further additions or early access to funds. As a result, investors must be comfortable with the amount they invest and the length of the term.
These bonds are also available through Yorkshire Bank.
These accounts have taken the Moneyfacts charts by storm, with all securing a place in the top 10 for their respective sectors. The competitive rates and the ability to receive interest annually, monthly or on maturity are likely to appeal to eager investors, although they must be comfortable locking their money away for the full term as none of these accounts allow early access to funds.
Four Moneyfacts Stars have been awarded.
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